The Landing Resort & Spa

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1 The Landing Resort & Spa LAKE TAHOE Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., real estate broker licensed with the California Department of Real Estate, License Number ( HFF ) HFF 1

2 The Landing Resort & Spa LAKE TAHOE HFF has been exclusively retained to offer an exceedingly rare opportunity to acquire one of Lake Tahoe s most prominent mountain resorts, the Landing Resort & Spa (the Property or the Resort ). Renovated in 2013, nestled lakefront in South Lake Tahoe, the Property has quickly risen in prominence, ranked as #1 Top Resorts in Northern California by Conde Nast and #4 Best Hotels in Lake Tahoe by U.S. News & World Report. The Resort is available unencumbered by brand or management. Boasting 77 spectacular guest rooms, the Resort is truly in a class of its own. The Property s unparalleled amenity package includes a state-of-the-art spa and fitness center, 12,000 square feet of indoor and outdoor function space, an outdoor swimming pool and hot tub and an award-winning on-site restaurant. The Resort also is a perfect venue for weddings and events, hosting over 60 weddings annually with the opportunity to significantly generate additional revenue through value-add initiatives. South Lake Tahoe is among the premier mountain destinations in North America. Located on the southeast shore of Lake Tahoe near the California-Nevada Border, Heavenly is a stunning haven for both outdoor adventure and supreme relaxation, and is the region s largest ski area, featuring the highest elevation and longest vertical drop. Covering 4,800 skiable acres, Heavenly features 3,500 vertical feet of downhill terrain serviced by 29 lifts that are accessible by gondola. Heavenly also features nearly 100 trails for mountain enthusiast to explore. In addition, the Shops at Heavenly Village is located at the base of the Heavenly Village and features retail including shops, restaurants, and cafes.

3 HFF 3

4 WATERFRONT RESORT Situated on Lake Tahoe s South Shore, the award-winning, recently-renovated, 77-key Landing Resort & Spa is uniquely positioned as one of Lake Tahoe s premier lodging properties and located only blocks away from Heavenly Village. All 77 guestrooms feature upmarket European décor, heated bathroom floors, heated toilet seats and gas fireplaces, with most guest rooms exhibiting lake views. Resort amenities include: complimentary high speed in-room internet access, fully-equipped fitness center, full-service spa, gift and sundry boutique, large outdoor hot tub and heated pool, valet parking, ski/boot storage, as well as complimentary transportation to the Heavenly Gondola & Village. Dining options include in-room service, as well as Jimmy s Restaurant, the Property s on-site luxury restaurant. Located near the entrance to the Hotel, the Spa at The Landing Resort is four room, first-class spa staffed with expert therapists and aestheticians providing a wide variety of treatments. The spa features four state-of-the-art treatment rooms, pre-treatment sauna and steam room, and a nearby fitness center. The outdoor heated pool and Jacuzzi are also available for guests to enjoy as well. The Spa also features a relaxation lounge and showers. 4 HFF

5 PROPERTY SUMMARY ADDRESS 4104 Lakeshore Blvd, South Lake Tahoe, CA GUESTROOMS 77 Guestrooms OPENING DATE December 1, 2013 FOOD & BEVERAGE FUNCTION SPACE PROPERTY AMENITIES FRANCHISE / MANAGEMENT INTEREST Jimmy s Restaurant - contemporary Greek & California cuisine (Open breakfast, lunch and dinner) In-room dining Total Function Space - 12,000 SF Grand Rooftop Terrace (outdoor) - 3,600 SF Lakeview Ballroom - 1,225 SF Lakeview Board Room SF Ballroom & Board Room - 1,700 SF Events Tent - 5,000 SF Valet Parking Wine Cellar Bar & Lounge Full Service Spa Heated Outdoor Pool and Hot Tub Lakeview Patio with 4 Fire Pits; Rooftop Deck with Fireplace Complimentary Fitness Center with Sauna Independent / Unencumbered Fee Simple HFF 5

6 RECENT RENOVATION GENERATES STRONG CASH FLOW WITH UPSIDE In 2013, the Resort underwent a transformative $18.1 million ($235,000 per key) renovation that repositioned the property into one of Lake Tahoe s most coveted luxury boutique hotels. Since then the Resort s revenues have risen by 61% with RevPAR increasing by 58% from In addition, NOI has increased by 44% year-over-year from 2015 to. The Resort represents an ideal opportunity to significantly increase cash-on-cash yields going forward via strategic valueadd projects such as acquiring leasing rights to the adjacent beach parcel for increased food and beverage operations, inserting institutional management and other highly accretive revenue management strategies and systems. UNENCUMBERED BY BRAND AND MANAGEMENT The Hotel is being offered unencumbered of management and brand. Introducing an institutional hotel management company will add incredible value day one. Given the Hotel s independent positioning, The Landing is a blank slate for go-forward independent or brand alternatives. 6 HFF

7 IMMEDIATE PROXIMITY TO HEAVENLY The Landing Resort & Spa is conveniently located across the street from Heavenly Village with access to more than 4,800 acres of world-class skiing and snowboarding. The scenic shoreline and crystal clear water of Lake Tahoe is a short walk from the hotel, where guests have entry to a private beach on the shores of Lake Tahoe, the 2nd deepest Alpine lake in the world. The casino nightlife of Nevada is just blocks away for gaming and live entertainment by national and international performers. Heavenly also boasts Tahoe s highest summit of 10,067 feet, longest vertical drop at 3,500 feet and the longest run at 5 miles. 73% of trails are covered by the West Coast s largest and most powerful snowmaking system. Annually, Heavenly attracts 900,000 skiers. The Resort is proximate to the heart of downtown South Lake Tahoe, walking distance to scores of popular restaurants, bars and shops and the best casinos. New high end shops and restaurants were added, making Heavenly Village one of the best amenities for after skiing activities including a movie theatre, Starbucks café, several wine stores, art galleries, jewelry stores, and clothing and sports equipment shops such as Patagonia. HFF 7

8 HIGH BARRIERS TO ENTRY Because of the Tahoe Regional Planning Agency, a bi-state environmental conservation agency with a mission to preserve, restore, and enhance the unique natural and human environment of the Lake Tahoe Region, new development opportunities are non-existent in the area. These strict limitations on new development opportunities provides investors a unique opportunity to capture a recently-delivered, upscale asset without embarking on a lengthy, speculative approval process. With an irreplaceable location and recent build, the Landing is positioned to be a truly one-of-a-kind asset. 8 HFF

9 NOTABLE AWARDS Silver Magellan Award, Hospitality Overall Luxury Hotel/Resort 2017 Luxury Resort & Spa of the Year 2017 Luxury Resort & Spa of the Year Wedding Wire Couples Choice Award Winner Luxury Romantic Hotel United States of America Winner Luxury Boutique Hotel The Americas Best in Hospitality Winner Hotel & Spa Best Resort & Spa North America Top Luxury Hotels in California North America Leading Boutique Resort 2017 Nominee North American Leading Romantic Resort 2017 Nominee North America Leading Boutique Hotel Nominee North American Leading New Hotel Nominee North American Most Romantic Resort Nominee HFF 9

10 The Landing Resort & Spa LAKE TAHOE INVESTMENT ADVISORS TONY MALK Managing Director CA Lic. # HFF SCOTT HALL Managing Director CA Lic. # PAUL BRINDLEY Senior Managing Director CA Lic. # AARON LAPPING Analyst CA Lic. #

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